Jainik Power Cables Launches Game-Changing IPO

Jainik Power Cables, a leading manufacturer of aluminium wire rods, launched its Rs 51.3 crore initial public offering (IPO) on Tuesday. The IPO, priced in the bracket of Rs 100-110 per share, is open for subscription until June 12, according to a company statement.

Investors can secure shares listed on NSE Emerge by bidding in minimum quantities of 1,200 shares. The offering constitutes a fresh issue of 46.63 lakh shares, with proceeds earmarked for establishing a new plant, debt repayment, working capital, and general corporate purposes.

Managing Director Shashank Jain emphasized that the IPO signifies a transformative step from trading to manufacturing, aiming to optimize financial structure and deliver long-term value. The company reported a revenue of Rs 351.7 crore with a profit after tax of Rs 9.24 crore for FY25. Fast Track Finsec is managing the book running, and Skyline Financial Services is handling registrar duties.

(With inputs from agencies.)